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National Context – The Montague Review “a combination of recent tax changes and wider market conditions have cleared the way for this market to grow. The challenge right now is to secure a step change on a faster timescale….. …to give a significant boost to house building now”.

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Demand Nationally people privately renting has almost doubled in last 10 years 1 in 4 households in London privately rent in Wandsworth 1 in 3 Average Rent around £1,156 per month Demand driven by: – Homeownership affordability/availability of loans – Population growth patterns and urban population profile (20-34s) Wandsworth: – Borough with highest percentage population between – Singles and couples – Working/professional – Highly mobile

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Case Study Christie’s Approval PRS secured for a minimum of 15 years Managed by RP 46% 1 bed, 49% 2 bed – separate cores & ensuites local marketing plan with prioritization of lettings to Wandsworth residents and workers who meet landlord’s requirements longer tenancy terms of up to 5 years are offered Agreement of the approach to be used to rent reviews to provide “certainty” Identification as to how family units will be let and marketed to family households

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Now and Future Limited agreements reached to turn some “higher value” RP disposals to PRS Promoting intermediate rent as alternative to shared ownership (Dolphin Square model) Key focus stability of management - recognise that flexibility may be preference on both sides PRS as Council investment and income generator